Normet continues to invest in Electrification Technology and becomes a Minority Shareholder of Finland-based Startup Lekatech
The topic of sustainability has moved sharply into focus for all sectors around the world. Faced with the looming climate crisis, awareness of sustainable development has come to the fore and made its way into the underground mining and tunnelling industry. Normet is committed to sustainable development and is leading transformation into digitalised and sustainable underground mining and tunnelling.
LKAB has identified significant deposits of rare earth elements in the Kiruna area, metals which are essential for, among other applications, the manufacture of electric vehicles and wind turbines. Following successful exploration, the company today reports mineral resources of rare earth metals exceeding one million tonnes of rare earth oxides and the largest known deposit of its kind in Europe.
FLEXCO has developed the Elevate IoT platform – an intelligent Industry 4.0 solution that enables conveyor belt operators to monitor their belts in real time.
Grängesberg Exploration Holding AB ("GRANGEX") has appointed Swedbank AB and SpareBank 1 Markets AS as financial advisors for the project financing of the restart of the Dannemora iron ore mine, as well as the build-up of the circular apatite project in Grängesberg.
Normet acquires Finland-based Boom Systems Manufacturer Rambooms and hydraulic Attachments supplier Marakon
Normet acquires Finland-based Boom Systems Manufacturer Rambooms and hydraulic Attachments supplier Marakon (Credits: Marakon)
Normet has agreed to acquire Rambooms Oy, a manufacturer and supplier of rock breaker boom systems, and Marakon Oy, a supplier of hydraulic hammers and excavator attachments for the construction, crusher and mining industries.
The Rambooms and Marakon businesses, with a manufacturing facility in Lahti, Finland, form the Marakon Group. The Group has a wide customer base, and its products are found in most mining and construction markets. Marakon Group has 35 employees and net sales of EUR 26 million in 2022.
“Rambooms and Marakon are known for their high performing quality products,” says Ed Santamaria, President and CEO at Normet. “With the acquisition Normet strengthens its position in scaling and breaking as well as supports advancing towards higher levels of automation and electrification for the mining and construction industries. We look forward to welcoming the Marakon Group employees to Normet and supporting them in their future growth and development.”
“Throughout the past 40 years Marakon and Rambooms have grown together with both our business partners and employees. We feel trustful in the fact that this acquisition will allow for these shared success stories to continue. As this milestone marks a step towards new opportunities to advance and succeed, we are excited to follow the future accomplishments of both companies,” comments Tomi Veijalainen, President, MRB-Holding Oy.
The acquisition is expected to be closed in the first quarter of 2023, subject to the fulfilment of customary closing conditions. The parties have agreed not to disclose any financial details related to the transaction.
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